Samsung most expensive phone in world

Apple sold fewer iPhones than expected in its most recent quarter but higher selling prices meant the tech giant still beat Wall Street forecasts. The firm said it sold 41.3 million iPhones in the three months to the end of June, up just 1% from last year. But the average iPhone selling price hit $724, well above the expected $694. The firm said its $999 iPhone X - launched last year - remained its most popular iPhone model in the quarter and had driven the higher sales price. Strong revenue growth of 31% from Apple's services business, which includes the App store, Apple Music and Apple Pay, also boosted its performance. The services business is on track for more than $14bn in revenue in 2020, chief executive Tim Cook said. "We couldn't be happier with how things are going," he said. Overall the tech giant's revenue jumped 17% year-on-year to a quarterly record of $53.3bn (£40.6bn), with every region except Japan reporting double digit growth. Profits rose to $11.5bn, up 32% … [Read more...] about Apple boosted by selling more expensive iPhones

Govt inspectorate: Violations found at PVC's projects PetroVietnam Construction Joint Stock Corporation (PVC) committed many violations in the projects which it carried out as a contractor, the Government Inspectorate told a press briefing late last week. Local media quoted Ngo Van Khanh, deputy head of the Government Inspectorate, as saying that the agency had inspected Vietnam National Oil and Gas Group but the large number of units under its umbrella made it impossible to do a thourough inspection. Violations of PVC during the time Trinh Xuan Thanh, who has recently been disqualified as National Assembly deputy, was serving as chairman, took place at abandoned projects like a biofuel plant in Phu Tho Province and Dinh Vu yarn plant in Haiphong City. "This is an extraordinary inspection, but the final conclusion is not available yet," Khanh said. Therefore, violations at PVC are not only related to losses of over VND3.3 trillion. Khanh added the Government Inspectorate will report … [Read more...] about BUSINESS IN BRIEF 30/7

Samsung Electronics Co Ltd (005930.KS) scrapped its flagship Galaxy Note 7 smartphone on Tuesday less than two months after its launch, dealing a huge blow to its reputation and outlook after failing to resolve safety concerns.
Samsung announced the recall of 2.5 million Note 7s in early September following numerous reports of the phones catching fire and on Tuesday it finally pulled the plug on the $882 device in what could be one of the costliest product safety failures in tech history. The decision to scrap the Note 7 came after fresh reports of fires in replacement devices prompted new warnings from regulators, phone carriers and airlines. "(We) have decided to halt production and sales of the Galaxy Note 7 in order to consider our consumers' safety first and foremost," the South Korean firm said in a filing to the Seoul stock exchange. Samsung said earlier it asked all global carriers to stop sales of the Note 7s and the exchange of original devices for replacements, while it … [Read more...] about Samsung scraps Galaxy Note 7 over fire concerns

Petrol price slashed for first time in 2016 The price of E5 RON 92 biofuel has fallen by VND571 to touch VND15,339 (68 cents) per litre. The diesel price has increased by VND865 to reach VND11,119 (49 cents) per litre. The price of kerosene has risen by VND791 per litre to end at VND10,274 (45 cents), while that of mazut has increased by VND616 per kilogram to reach VND7,456 (33 cents) per kilogram. The ministry said the falling domestic retail petroleum price was attributable to the downward trend of the world fuel price over the past fortnight. The ministry and Finance Ministry also decided to keep the petrol price stabilisation fund unchanged. US benchmark West Texas Intermediate (WTI) in its latest delivery was pegged at $36.60 per barrel, down 3.5 per cent from its selling price in electronic trading in New York. Brent crude in London also fell by 3.5 per cent to $36.46 per barrel. A representative from a petrol trading firm in HCM City said by the end of 2015, the basic … [Read more...] about BUSINESS IN BRIEF 5/12

63,500 products ready for Online Friday’s shopping spree More than 63,500 products with generous discounts are ready for Online Friday’s shopping spree at the website onlinefriday.vn on December 4. The online promotion, organised by the Vietnam E-Commerce and Information Technology Agency (VECITA) under the Ministry of Industry and Trade, aims to accelerate consumer demand and wireless purchases. This is also part of the agency’s strategy to boost the development of e-commerce in Vietnam , according to head of the VECITA Tran Huu Linh. Transactions will mainly be involved high-end clothes, books, watches, digital equipment, tourist products and household utensils. Swatch and Guess brands planned discounts of 70 percent, while Mango, Nike and Dorothy brands will offer a 50-percent discount, as a few to name. Jose Finch, Managing Director of Zalora Vietnam - one of the leading online fashion retailers, said Online Friday has become a special event of Vietnam ’s … [Read more...] about BUSINESS IN BRIEF 4/12